24-carat gold rises to Dh154.50 in UAE ahead of festive season

Globally, gold traded higher at $1,276.10 an ounce in New York on Friday.

Gold prices advanced further by Rs100 to Rs30,550 per 10 grams on Saturday on festive season buying by jewellers in the domestic spot market, supported by global cues.
In UAE the current price of 24 carat is at Dh154.50 while 22 carat is at Dh142.25.
Silver also made headway and spurted by Rs 500 to Rs 40,600 per kg on increased off-take by industrial units and coin makers.
Traders said that apart from a firming global trend, increased buying by jewellers at the domestic spot market to meet festive season demand mainly kept gold prices higher.
Globally, gold traded higher at $1,276.10 an ounce in New York on Friday. Silver too edged up to $16.81 an ounce.
In the national capital, gold of 99.9 per cent and 99.5 per cent purity added another Rs100 each to Rs30,550 and Rs30,400 per 10 grams, respectively. It had gained Rs75 on Friday.
Sovereign, however, remained unchanged at Rs24,700 per piece of eight grams.
In line with overall trend, silver ready traded sharply higher by Rs500 to Rs40,600 per kg and weekly-based delivery gathered Rs460 to Rs39,600 per kg.
Silver coins remained flat at Rs74,000 for buying and Rs75,000 for selling of 100 pieces.
 

• Gold and Forex